Brief: Shift And Carlotz Agree To Merge, Creating A Differentiated Used-Auto Ecommerce Retailer

Shift Technologies

09/08/2022 23:15

Aug 9 (Reuters) - Carlotz Inc  LOTZ.O :
    * PRESS RELEASE - SHIFT AND CARLOTZ AGREE TO MERGE, CREATING
A
DIFFERENTIATED USED-AUTO ECOMMERCE RETAILER
    * CARLOTZ INC - UPON CLOSE, COMBINED COMPANY ANTICIPATED TO
HAVE A
CASH POSITION OF APPROXIMATELY $125 MILLION
    * CARLOTZ INC - UNDER TERMS OF MERGER AGREEMENT, CARLOTZ
SHAREHOLDERS ARE EXPECTED TO RECEIVE APPROXIMATELY 0.692158
SHARES OF SHIFT COMMON STOCK
    * CARLOTZ INC -  CO, SHIFT ENTERED INTO A DEFINITIVE
AGREEMENT TO
COMBINE IN A STOCK-FOR-STOCK MERGER
    * CARLOTZ INC - UPON CLOSING OF MERGER SHIFT'S THEN-CURRENT
EQUITY
HOLDERS WILL OWN ABOUT 52.9% OF COMBINED COMPANY

Source text for Eikon:  ID:nGNX721Cx2 
Further company coverage:  LOTZ.O 

 ((Reuters.Briefs@thomsonreuters.com;))